Silver price today (November 11), the silver market continued to increase again after the decision to lower interest rates by the US Federal Reserve (FED).
Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,165,000 VND/tael (buy) and 1,201,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price is currently listed at 979,000 VND/tael (buy) and 1,009,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 981,000 VND/tael (buy) and 1,011,000 VND/tael (sell). World silver price is at 792,000/ounce (buy) and 797,000/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 11, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
Silver 99.9 | 1 amount | 979,000 | 1,009,000 | 981,000 | 1,011,000 |
| 1 kg | 26,109,000 | 26,907,000 | 26,161,000 | 26,958,000 | |
| Silver 99.99 | 1 amount | 983,000 | 1,013,000 | 985,000 | 1,015,000 |
| 1 kg | 26,205,000 | 27,019,000 | 26,257,000 | 27,070,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 11, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,165,000 | 1,201,000 |
| Phu Quy 999 Silver Bar | 1 kg | 31,066,589 | 32,026,587 |
Latest update on world silver prices on November 11, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell | |
| 1 Ounce | 792,000 | 797,000 |
| 1 only | 95,480 | 96,090 |
| 1 amount | 955,000 | 961,000 |
| 1 kg | 25,457,000 | 25,619,000 |
The precious metals market saw a positive trading session, with silver prices rising nearly 2% to $31.80 an ounce and platinum prices rising slightly by 0.6% to $999 an ounce. The move was driven by the US Federal Reserve's decision to cut interest rates and the weakening of the US dollar.
As expected, the FED decided to lower the target interest rate to 4.5% - 4.75%, equivalent to a reduction of 25 basis points. This decision is to support economic growth and deal with uncertainties in the global market.
Notably, Fed Chairman Jerome Powell has affirmed that the upcoming election will not affect the central bank's monetary policy direction. At the same time, he also said that the Fed will continue to closely monitor the economic situation and is ready to adjust policy if necessary.
In addition, the depreciation of the USD against other currencies is also a significant supporting factor for precious metal prices. The Dollar Index decreased by 0.55% to 104.51 points. The weakening of the USD reduces the cost of USD investment for foreign investors, while reducing interest rate pressure, thereby attracting cash flow into the precious metal market.
The Fed’s decision to cut interest rates and the weakening of the US dollar have provided a strong boost to the precious metals market. However, investors need to continue to closely monitor developments in the global economy and the policies of other central banks to make appropriate investment decisions.
Source: https://congthuong.vn/gia-bac-hom-nay-11112024-bac-the-gioi-tang-ga-n-2-357977.html
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